On Sept. 25, 2020, California Gov. Gavin Newsom signed into law the California Consumer Financial Protection Law (CCFPL), which was passed by the California Legislature Aug. 31, 2020. The
Continue Reading California’s Adoption of ‘Mini-CFPB’ Will Transform Consumer Financial Services Regulation in the State
In March 2020, a Southern District of New York court issued a significant decision in Securities and Exchange Commission v. Telegram Group Inc. et al., strengthening the U.S. government’s
Continue Reading Another Significant Cryptocurrency Decision: SEC v. Kik Interactive Inc. and Token Offerings Under the Securities Laws
On July 17, 2020, the Board of Governors of the Federal Reserve System (Federal Reserve) announced the terms of an expansion of the Main Street Lending Program to include loan
Continue Reading Main Street Loans to Be Extended to Nonprofits
On June 25, 2020, the five commissioners of the Commodity Futures Trading Commission (CFTC), by a vote of three-to-two, withdrew proposed Regulation Automated Trading (Reg. AT), and by a vote
Continue Reading CFTC Cancels and Replaces Proposed Regulation AT
Small businesses oftentimes rely on co-working spaces, which are facing two issues during the Coronavirus Disease 2019 (COVID-19) pandemic.
Continue Reading Contractual Flexibility for Small Businesses
On May 12, 2020, the Board of Governors of the Federal Reserve System (the Federal Reserve) announced additional information and FAQs on its Term Asset-Backed Securities Loan Facility (TALF). The
Continue Reading Federal Reserve Releases New Information on the TALF
This evening the SBA issued new FAQ 47 extending the repayment date for the safe harbor to May 18, 2020. View the full FAQs here.
For more information and
Continue Reading SBA Extends PPP Repayment Date for Safe Harbor to May 18
This morning the SBA issued an important new FAQ 46 on how it intends to review the good faith necessity certification required for PPP loans. The safe harbor for return
Continue Reading SBA Issues FAQ Guidance on PPP Good Faith Necessity Certification
On Sunday night, March 22, 2020, the federal banking agencies (OCC, FDIC, NCUA, Federal Reserve), the Consumer Financial Protection Bureau and the State Conference of Bank Supervisors issued an Interagency
Continue Reading Interagency Guidance for Financial Institutions on Coronavirus Disease-Related Loan Modifications
As the COVID-19 situation continues to evolve, market volatility, workplace disruptions and a shuttering of everyday life are becoming increasingly commonplace. While the 2021 LIBOR phase-out may not seem top
Continue Reading All Systems Go? LIBOR Transition Efforts During the COVID-19 Pandemic